European Central Bank President Christine Lagarde Speaks
Event Date: Thursday, February 6, 2020
Event Time: 08:00 CET
Will Lagarde Confirm the More Dovish Reversal from ECB?
Updated Wednesday, February 5, 2020
EVENT ENDED
The ECB President Christine Lagarde is due to testify about the economy and monetary policy before the European Parliament Economic and Monetary Affairs Committee, in Brussels. The economy of the Eurozone has shown great signs of weakness recently, with industrial production and particularly manufacturing taking a deep dive in the last few months. The ECB shifted from dovish to even more dovish in the last meeting, although they just cut interest rates by 10 bps and didn't set a date for another rate cut. Markets weren't satisfied by that and the fact that the reintroduction of the QE programme is not as big as initially expected. But, we have heard some dovish comments from ECB members lately so, Lagarde can shed some light on this speech if he touches on these issues, which will be very interesting for Euro traders. Please follow us for coverage of this event by experienced market analysts.
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About European Central Bank President Christine Lagarde Speaks
Mario Draghi is the president of the European Central Bank (ECB). He speaks at various events and gives speeches or press conferences with questions and answers sessions. His opinions are very important for the Euro because Draghi, as the president of the ECB, is the most influential person to decide on the monetary policy of the Central Bank.
Forex traders try to read the clues in Draghi's speeches. Therefore, the forex market, and particularly the Euro pairs, become considerably volatile during his speeches. Although, it should be noted that not all of his speeches are in relation to the monetary policy. Sometimes he speaks in conferences or conventions about topics such as central banking which does not relate to the monetary policy and interest rates. During such occasions, the market tends to ignore him.
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The ECB Chair Legarde is on wires now, speaking about the monetary policy. Euro taking a slight bullish turn on remarks that the euro-area economy continues to grow broadly in-line with expectations.
Lagarde – The Eurozone’s domestic economy remains relatively resilient, while global factors weigh on euro area growth.
Lagarde – Global Inflation expectations are firmly anchored. While the low-interest rates bring a lot of benefits to the euro area economy.
Read the full report here: https://www.ecb.europa.eu/press/key/date/2020/html/ecb.sp200206~edb83d06a3.en.html